Funding News
We regularly curate the latest insights and reports provided by and in collaboration with our partners and stakeholders to create the largest platform for knowledge-sharing and development within the world’s insurance industry.
Chexy Secures $3 Million Seed to Disrupt Canadian Rental Market
Chexy, a Canadian startup which allows renters to pay their rent online whilst earning rewards and building credit, has announced it has raised $3 million in a seed round.
ZA Tech Rebrands as Peak3 and Raises US$35 Million Series A Led by EQT
ZA Tech, a next-generation insurance core system SaaS provider, has rebranded as Peak3 and has also announced the completion of its US$35 million Series A fundraising from EQT (lead investor) and Alpha JWC Ventures.
Amplify Completes Successful $20 Million Series B
Amplify, an insurtech seeking to democratise life insurance, announced it has raised $20 million in a Series B funding round.
Insurtech Funding Round-Up: Top 15 Investment Raises of Q2 2024
Insurtech funding has seen a significant uptick in recent weeks with raises almost reminiscent in frequency of the 2021 digital transformation boom.
Finsall Secures $1.8 million Bridge Round
Finsall, a Fin+InsureTech, has successfully secured a $1.8 million bridge round, led by existing investors Unicorn India Ventures and Seafund alongside other institutional participants.
Pyte Raises $5 million to Expand Secure Computation
Pyte, a Los Angeles-based company specialising in secure computation platforms, has announced it has raised an additional $5 million in funding, bringing its total funding to over $12 million.
YesWeHack closes out €26m Series C Funding Round
YesWeHack, a prominent Bug Bounty and cybersecurity vulnerability management platform, announced it has successfully raised €26 million in a Series C funding round.
Anterior Secures Successful $20 Million Series A
Anterior, an insurtech using AI to expedite health insurance approval for medical procedures, has successfully closed a $20 million Series A round at a $95 million valuation.
Axis Insurance Announces Growth Investment from Lee Equity Partners
Axis Insurance, a Canadian specialty insurance brokerage, announced it had received a significant strategic investment from Lee Equity Partners, a mid-market fund specialising in the financial services and healthcare sectors.
Guidewire Invests in Indico Data
Guidewire, a leading platform provider for property and casualty (P&C) re/insurers, has significantly contributed to a $19 million funding round for Indico Data, a company specialising in automating essential workflows for document-intensive industries such as insurance and financial services.
Continuity Closes Successful €10 million Series A Round
Continuity, an insurtech using artificial intelligence and external data for professional and commercial P&C insurers, has announced a successful €10 million Series A funding round.
Understory Raises $15 Million Series A to Develop New Product for Renewable Energy Sector
Understory, a provider of insurance solutions against severe weather losses, has secured $15 million in a Series A funding round to develop a new product for the renewable energy sector.
Sixfold Closes $15 million Series A Round
Sixfold, a generative AI insurtech for underwriters, has raised $15 million in a Series A round.
Top Speaker Sessions Unveiled for Insurtech Insights USA 2024
Insurtech Insights USA 2024, the premier gathering for innovators and leaders in the insurance technology industry, is excited to announce its lineup of top speaker sessions taking place at the Javits Center on June 5th and 6th.
FintechOS Completes $60 million Series B+ Round
FintechOS, a leading end-to-end financial product management platform, has announced it has completed a successful $60 million Series B+. The round was led by Molten Venture, Cipio Partners, and BlackRock alongside existing investors EarlyBird VC, OTB VC, and Gapminder VC.
Mental Health Insurtech ifeel Raises US$20 Million in Series B
ifeel raises US$20 million to save millions in mental health-related disability, productivity and claims for insurance companies and corporates around the world
British Insurtech Bondaval Raises £15 million to Launch New Reinsurance Vehicle
Bondaval, a British insurtech which provides protection against payment defaults has secured backing from a leading European Venture Capital.
APOLLO Raises US$13.4 Million to Launch Buy-Now-Pay-Later Subsidiary Finshore
Canadian Insurtech APOLLO has raised US$13.4 million to establish its buy-now-pay-later (BNPL) subsidiary, Finshore. FinShore will provide a fully embedded monthly payment option to over 100,000 Canadians who are insured with Apollo.
Authentic Insurance Closes US$11 Million Series A Round
Authentic Insurance, a New-York based insurtech startup has raised US$11 million in a Series A funding round led by First Mark Capital, with participation from Slow Ventures, Altai Ventures, MGV, Upper90, and Commerce Ventures.
Swiipr Secures US$7.6 Million to Revolutionise Airline Disruption Payments
Swiipr, a travel paytech company announced it has secured US$7.6 million in funding to further develop its platform aimed at disrupting and revolutionising airline disruption payments.
Cover Whale Secures US$27.5 Million Investment from Morgan Stanley Expansion Capital
Cover Whale, a leading InsurTech company specialising in connected insurance for commercial auto, has successfully secured US$27.5 million in debt and equity from investment funds managed by Morgan Stanley Expansion Capital.
Vitesse Raises US$93 Million in Series C Led by KKR, Appoints Curt Hess as US Executive President
Vitesse, a leading treasury and payment solutions provider for the insurance industry, today announced the completion of a $93 million Series C funding round led by leading global investment firm, KKR, with participation from existing investors, including Hannover Digital Investments.
Arbol Raises US$60 Million in Series B Funding to Expand Climate-Based Insurance Coverage
Arbol, a climate-focused insurtech startup, has successfully raised $60 million in a Series B funding round. Giant Ventures and Opera Tech Ventures co-led the round, with participation from Mubadala Capital, joining existing investors Finch Finance and Space Capital.
Watershed Health Raises $13.6 Million in Funding Round
Care coordination company Watershed Health has successfully completed a $13.6 million funding round.
Norwegian Flood Risk Startup, 7Analytics, Secures €4 Million Investment
Norwegian flood risk startup, 7Analytics, has announced a successful funding round of €4 million from Scale Capital, a prominent investment firm.
BimaPay Raises US$2 Million Funding to Drive Tech-Enabled Insurance Solutions
BimaPay, an insurtech startup, has successfully secured US$2 million (approximately INR 16.7 crore) in funding, led by LC Nueva Investment Partners.
Indian Insurtech Go Digit Secures US$141 Million from Anchor Investors Ahead of IPO
Indian insurance startup Go Digit has successfully raised US$141 million from numerous investors in anticipation of its upcoming initial public offering (IPO).
Cover Genius Raises US$80 Million in Series E Funding Amidst Tech Funding Slowdown
Leading embedded insurance provider Cover Genius, has announced the successful closure of its $80 million Series E funding round.
Chapter Medicare Raises US$50 Million in Series C Round to Enhance Senior Healthcare Navigation
In a significant stride towards revolutionizing senior healthcare accessibility, Chapter Medicare, a leading Medicare broker headquartered in New York, has successfully raised $50 million in its Series C funding round.
Maritime Insurance Tech Startup Vanguard Raises US$1 Million in Funding Round
Maritime technology startup Vanguard has successfully secured US$1 million in new funding aimed at advancing its automated insurance underwriting platform for maritime operations.
CoverTree Raises US$13 Million in Series A Funding to Transform Manufactured Home Insurance
Led by Portage with participation from AV8, Distributed Ventures, and Detroit Venture Partners, CoverTree launches an enterprise suite to provide homeowners with leading quality insurance coverage.
London-Based Insurtech Eleos Secures US$4 Million Seed Investment to Expand to the US
London-based insurtech company Eleos has raised US$4 million in a seed funding round to support its planned expansion into the United States.
Israeli Insurtech Company Honeycomb Raises US$36 Million in Series B Funding
Israeli insurtech company Honeycomb has secured US$36 million in a Series B funding round, the company has announced.
Arbol Raises US$60 Million to Expand Climate Risk Solutions and Insurance Portfolio
Arbol, a climate risk solutions provider with a global footprint across more than 15 countries, has announced the successful closure of a $60 million Series B funding round.
Urban Jungle to Announce US$14 Million Funding Round
London-based insurance startup Urban Jungle is set to announce a new funding round of approximately $14 million this week, according to a Sky News report.
FlashAid, a healthcare and insurtech startup, Secures $2.5 Million in Funding
FlashAid, a Mumbai-based healthcare and insurtech startup, announced it has raised $2.5 million in a pre-Series A funding round.
PCF Insurance Services Secures US$400 Million in Additional Financing
PCF Insurance Services, a top 20 U.S. insurance brokerage, has secured US$400 million in additional debt financing.
PeppercornAI Raises US$4 Million to Advance AI Integration in Insurance
UK Insurtech firm PeppercornAI has successfully raised US$4 million in funding, with investments coming from Wealth Club, EHE, and Angels Invest Wales.
Property Insurtech Startup Faura Raises US$500k in Pre-Seed Funding
Faura, a startup focused on building resilience in the property insurance sector, has raised $500,000 in its first round of funding.
Rainwalk Technology Raises US$4 Million in Seed Funding
Rainwalk Technology, a leading white-label pet insurance technology provider, has announced the successful completion of a $4 million Seed funding round.
French Insurance Startup Estaly Raises US$3.8 Million in Seed Funding
Estaly, a French insurance startup, has secured US$3.8 in seed funding from OneRagtime, CDG Invest, and approximately 20 angel investors.
AI Insurance Ventures Raise Nearly US$2 Billion in 2023, GlobalData Reports
AI insurance ventures experienced an 18% year-on-year increase in funding in 2023, raising nearly $2 billion through private equity and venture financing, according to GlobalData’s Technology Foresights model.
Unwritten Raises US$3.5 Million in Seed Funding to Advance Climate Risk Analytics
London-based startup Unwritten, previously known as Dovetail Finance, has completed a seed funding round, raising $3.5 million.
Jensten Secures US$211 Million Funding Boost, Pledges $1.2 Million Towards New Broker Launches
Jensten, a leading UK-based broker and underwriting group, has secured US$211 million in new borrowing facilities, and has announced it is pledging $1.2 million towards launching new brokers.
ICEYE Raises US$93 Million in Oversubscribed Growth Funding Round Led by Solidium Oy
ICEYE, a global leader in satellite-powered disaster management solutions, has finalised a definitive agreement for an oversubscribed US$93 million growth funding round, with Solidium Oy at the forefront.
ClaimBuddy Raises US$5 Million in Series A Funding to Boost Health Insurance Claim Assistance Platform
Health insurance claim assistance platform ClaimBuddy has successfully concluded its Series A funding round, securing a significant US$5 million investment.
Pula Raises US$20 Million Series B Funding to Expand Agricultural Insurance Coverage Across Emerging Markets
Pula, a Kenyan-based insurtech firm, has successfully raised US$20 million in Series B funding to bolster its efforts in providing agricultural insurance to farmers in Africa, Asia, and Latin America.
Funding Round-up: Are these 15 Companies Signalling Investment Recovery in 2024?
2024 has seen a raft of impressive investment rounds hitting the headlines. Are we in full-blown investment recovery? Or is this a slowdown rebound? Insurtech Insights rounds up the top funding events.
HSCM Secures Over $175 Million for Launch of HS Mohawk Fund I LP
Hudson Structured Capital Management Ltd. (HSCM), a leader in reinsurance, insurtech, insurance-linked securities (ILS), and transportation investments, has successfully raised more than $175 million for the launch of its new life insurance-focused continuation fund, HS Mohawk Fund I LP.
Achmea Innovation Fund Backs Micromobility Insurtech Laka
The Achmea Innovation Fund has announced its investment in Laka, a pioneering European micromobility insurer, as part of its strategic move towards fostering smart and sustainable mobility solutions.
Brazilian Insurtech Akad Raises US$22.5M in Series A Funding Round
Brazilian insurtech startup Akad has successfully raised US$22.5 million in Series A funding, with Valor Capital Group and Across Capital serving as co-leads in the investment round.
Novidea Raises Additional US$30 Million from HarbourVest Partners, Total Funding Reaches $120 Million
Novidea, the pioneer of cloud-based, data-driven enterprise insurance management platforms, has raised an additional US$30 million from HarbourVest Partners.
Insurtech Startup Honey Insurance Secures US$108 Million Series A Funding
Australian insurtech startup Honey Insurance, has raised US$108 million in its Series A funding round, attracting significant interest from investors in the United States.
Canadian Insurance Broker Summit, Raises US$3.5 Million in Seed Funding
Canadian insurance sector, Summit, a burgeoning insurance brokerage, has successfully raised US$3.5 million in Seed funding.
CrashBay Secures US$1.25M Funding to Transform Collision Repair Connectivity
CrashBay, the pioneering digital marketplace for collision repair solutions, has announced the successful closure of a $1.25 million funding round. Spearheaded by venture capital firm Markd, this funding round also saw participation from key figures in the collision and insurance industries.
SydeLabs Raises US$2.5m to Solve Security and Risk Management for Generative AI
Security and risk management startup SydeLabs announced their seed funding round of $2.5m to build solutions aimed at securing GenAI systems for enterprises.
Oka Raises US$10 Million in Funding for Carbon Credit Insurance
Oka, a leading provider of carbon credit insurance, announced the successful completion of a $10 million funding round.
Indonesian Insurtech Firm Qoala Raises US$47 Million in Funding Round
Qoala, a prominent Indonesian insurance startup, has successfully closed a funding round, raising an impressive US$47 million.
German Insurtech Startup ELEMENT Raises €50 Million in Funding Round
German insurtech startup ELEMENT has secured €50 million in funding from Versorgungswerk der Zahnärztekammer Berlin K.d.ö.R. and Alma Mundi.
Sertis Raises $3.2 Million in Funding Round Led by JLL Spark Global Ventures
Sertis, a Managing General Agent (MGA) specialising in property owner coverage, has successfully secured $3.2 million in a recent funding round.
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